ACTS announces financing

 

ACTS Retirement-Life Communities, in partnership with Ziegler, announced the successful closing of a $232.2 million Series 2016 financing. ACTS operates 21 communities in eight states with a total of 7,993 units, of which 1,356 are skilled nursing.

The Series 2016 Tax-Exempt bonds closed concurrently with the 2016 Taxable Corporate Notes, the firm said.

“This financing enabled Acts to take advantage of historically low interest rates to refinance and rework existing debt, as well as borrow new money for a variety of capital projects on several campuses. Not only was it a large issuance, but it was complicated, too, with several states, issuers and series involved,” said Amy Castleberry, a senior vice president in Ziegler's senior living practice.